US current account drops to $94.8 billion in 3Q

Published December 17, 2013 1:51pm ET



WASHINGTON (AP) — The U.S. current account deficit narrowed in the July-September quarter to the lowest level in four years as a rise in Americans’ foreign investment earnings helped offset a bigger deficit in goods.

The deficit in the current account declined to $94.8 billion in the third quarter, the Commerce Department reported Tuesday. It was the smallest imbalance since the third quarter of 2009 when the country was climbing out of a deep recession. The deficit was 1.8 percent lower than a revised $96.6 billion deficit in the April-June quarter.

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